Friday saw the overnight trade as high 2094.75, which was the key resistance from the Aug 17th high. Price failed to hold above the overnight low for the majority of the day, though shorts were squeezed mid session before another sell-off. Volume was 1.7m contracts and 4.2bn shares on NYSE traded on the last day of the month.

The daily chart shows the market trading around the composite VPOC at 2079.00. It's quite feasible that the market rotates lower to the low volume 2045-50 area to find responsive buyers before making another attempt at Friday's overnight high. This is also an area where a lot of sell stops will be sitting from the swing low at 2051.75 on Oct 27th.

Holding above 2079.00 puts longs in a stronger position to push for the highs again.